CANMORE – Canmore town council voted unanimously this week to purchase a parcel of land along Palliser Trail for $1.8 million to use for a future affordable housing development.
The 2.16 acre parcel is currently home to the New Life Christian Centre and Chief Administrative Officer Lisa de Soto said after last year's discussion around the 2026 Winter Olympic bid, that organization decided to dissolve as a non-profit and divest its assets.
"They came back to the Town and inquired if there was interest in purchasing this parcel," de Soto said. "The land acquisition policy requires any offer to purchase land come to council for approval."
She said the $1.8 million to purchase the lot, which is adjacent to a 14.4 acre site already owned by Canmore Community Housing Corporation (CCHC), will come from the perpetually affordable housing (PAH) reserve fund and general capital reserves.
Council voted unanimously to approve the purchase, and passed a further motion to transfer parcel of land to CCHC for future affordable housing. Currently the lot is zoned as urban reserve, however de Soto pointed out an area structure plan for the Palliser area identifies the site as future highway commercial.
She said the assessed value of the lot is $1.6 million and the market value in its current state was independently estimated to be $1.4 million. However, if rezoned for housing or commercial, the value could increase to as much as $4.3 million.
"Administration believes there is a legitimate and strategic purpose [to acquire this parcel]," de Soto said. "Its location is immediately adjacent to CCHC lands ... this would allow for a real large scale neighbourhood style development to be built in that location.
"The site itself is readily developable. It has utilities, is generally flat and is located outside the high hazard area for the nearby steep creek."
Councillors were excited with the prospect of being able to increase the amount of land it has available for future affordable housing projects.
"I think this is a very strategic purchase that has been offered to us," said Coun. Joanna McCallum "It is a perfect lot to build a beautiful neighbourhood for Canmore locals."
Coun. Jeff Hilstad, whose immediate family is directly involved with the New Life Christian Centre, told council he has reviewed the Municipal Government Act with respect to the rules around declaring a pecuniary interest.
"Based on the legislation, I am satisfied neither I, nor my family, have a pecuniary interest," Hilstad said.
During the Olympic bid process, the municipality was in discussions with the New Life Christian Centre to use the lands as part of the athlete's village. De Soto said there is currently a tenant living in the basement suite of the home that is on the property.
By transferring the land to CCHC, she said it would be able to manage that tenancy after the sale is complete.
